Barron's Bullish On Exxon Mobil

Exxon Mobil, the largest U.S. oil company, was the subject of a bullish piece today in Barron's after Goldman Sachs upgraded the stock and raised its price target on the shares to $102 from $82, which reflects a 9% discount to $110 a barrel oil prices. Goldman analyst Arjun Murti said ''We see 'big oil' as offering a favorable risk/reward opportunity in an uncertain environment,'' Barron's reported.

Texas-based Exxon (XOM), a Dow component, touched a 52-week at $88.23 last month, but closed at $81.39. Barron's said the stock should rise again. Murti also thinks Exxon would outperform its peers if high oil prices meaningfully dampened consumption, Barron's reported.